Red Biotechnology Market: Current Analysis and Forecast (2022-2028)

The global red biotechnology market is expected to grow at a significant rate of around 6% during the forecast period. Biopharmaceuticals are complex medicines made from living cells or organisms, often produced using cutting-edge biotechnological methods. The reliability and safety of biopharmaceutical products along with their ability to treat rare diseases are among the important factors responsible for the market growth of the biopharmaceutical industry. Furthermore, the rising number of orphan diseases, the occurrence of mutation in the viruses, and increasing investments in the biologics industry by government & private organizations are also contributing factors to the market growth of red biotechnology. For instance, in July 2022, vaccine maker Biological E announced its expansion plans for investment of over Rs 1,800 crore.

Pfizer Inc., AstraZeneca Plc, F. Hoffmann-La Roche Ltd, Celgene Corporation, Takeda Pharmaceutical Company Limited, Biogen Inc., Amgen Inc., Gilead Sciences Inc., Merck & Co. Inc., and CSL Limited are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst Application, pharmacogenomics category to witness higher CAGR during the forecast period"

Based on the application, the market has been categorized into biopharmaceutical production, gene therapy, pharmacogenomics, genetic testing, and others. The pharmacogenomics category is expected to witness a higher CAGR during the forecast period. The rising number of genetic disorders along with the increasing number of autoimmune disorders and the rising biotechnology industry in developing nations is responsible for the segmental growth of pharmacogenomics.

"Amongst Product Type, human vaccines to hold a significant share in the market in 2020"

Based on the product type, the market has been categorized into gene recombinant drugs, human vaccines, blood products, diagnostics reagents, personalized medicines, and others. Among them, the human vaccines segment is expected to have significant growth in the market during the forecast period. The rising government efforts to increase vaccination along with vaccines provide long-term solutions against the disease is attributed to the growth of the market. For instance, as per the national health mission, Universal Immunization Program (UIP) is one of the largest public health programs targeting close of 2.67 crore newborns and 2.9 crore pregnant women annually.

"North America to hold a dominant share in the market"

For a better understanding of the market adoption of the red biotechnology industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, North America held a significant share of the global red biotechnology market. This is mainly attributed to the presence of major economies along with the higher R&D investment in the rising biotechnology industry in the region. Furthermore, the launch of various treatment and biopharmaceutical drugs is also an important reason for the considerable growth of the regional growth of the red biotechnology industry. For instance, in June 2021, Jazz Pharmaceuticals plc announced the U.S. Food and Drug Administration (FDA) approval of Rylaze™ for use as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia (ALL) or lymphoblastic lymphoma (LBL) in pediatric and adult patients who have developed hypersensitivity to E. coli-derived asparaginase.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

The global red biotechnology market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.